News

OrganiGram Announces Final Closing of Financing and Financial Statements

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN
CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES OR DISSEMINATION IN THE UNITED STATES.

OrganiGram Holdings Inc. (TSX VENTURE:OGI)(OTCQB:OGRMF) (the "Company") is
pleased to announce the closing of the final tranche of their
previously announced $6,350,000 non-brokered private placement of
securities for gross proceeds of $600,000 (the "Financing").

The Company has issued an aggregate of 288,461 units ("Units") at a price of $1.04 per Unit for gross proceeds of $600,000. Each Unit consists of one Common share of the Company (a "Common Share"), and one-half of a share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable into one additional Common Share (a "Warrant Share")
of the Company at $1.40 per Warrant Share for a period of eighteen (18)
months from the date of closing of the Financing. The Company intends
to use the proceeds from the Offering for accelerated facility expansion
and general working capital purposes.

In addition, the Company has secured an amount of $300,000
in a convertible debenture which carries an interest rate of 6.75% (the "Debentures").
The Debenture will mature on December 31, 2018 and may be converted by
the debenture holder at a ratio of 714.286 Common shares per $1,000.00
of the principal amount converted.

"As the Company continues to grow, OrganiGram
appreciates the confidence of the Board of Directors and all other
investors that participated in this financing round," said Roger Rogers, President and CFO. "The Company looks forward to allocating this capital effectively to expand the facility, enhance working capital
and continue marketing initiatives. This will also help the company
position for national legalization in light of the Federal Government's
platform position to legalize recreational marijuana."

In addition, the company would like to announce that their
Financial Statements for the Year Ended August 31, 2015 will be filed
with SEDAR at the close of business on December 17th. They would invite
any and all investors to join on their year-end investor call on Friday
December 18th at 8:30 am (ET). The call-in details are as follows;

Participant Toll Free Dial-In Number: (877) 291-4570

Conference ID: 8424737

Should an investor not be able to attend this call, there will be a recording available until December 26th, 2015 at the following number;

Replay Toll Free Dial-In Number: (800) 585-8367

Replay Password: 8424737

Related parties of the Company have acquired shares and
warrants under the private placement. Such participation is considered
"related party transactions" within the meaning of the TSX Venture
Exchange Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101").
The company relied on the exemptions from the formal valuation and
minority approval requirements of MI 61-101 in respect of related party
participation as at the time the transaction is agreed to, neither the
fair market value of the subject matter of, nor the fair market value of
the consideration for, the transaction, insofar as it involves
interested parties, exceeds 25 per cent of the Company's market
capitalization.

The shares, warrants, warrant shares, debentures and
debenture shares referred to in this news release have not been, nor
will they be, registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. persons absent U.S.
registration or an applicable exemption from the U.S. registration
requirements. This news release does not constitute an offer for sale of
securities for sale, nor a solicitation for offers to buy any
securities. Any public offering of securities in the United States must
be made by means of a prospectus containing detailed information about
the company and management, as well as financial statements.

The Financing is subject to the final approval of the TSX
Venture Exchange. All securities issued will be subject to a hold period
pursuant to applicable securities law.

About Organigram Holdings Inc.

Organigram Holdings Inc. is a TSX Venture Exchange listed
company whose wholly owned subsidiary, Organigram Inc., is a licensed
producer of medical marijuana in Canada. Organigram is focused on
producing the highest quality, condition specific medical marijuana for
patients in Canada. Organigram's facility is located in Moncton, New
Brunswick and the Company is regulated by the Marihuana for Medical
Purposes Regulations.

On behalf of the board of directors,

Denis Arsenault Director and CEO

OrganiGram Holdings Inc.

The TSX Venture Exchange Inc. has in no way passed upon
the merits of the proposed transaction and has neither approved nor
disapproved the contents of this press release.

This news release contains forward-looking information,
which involves known and unknown risks, uncertainties and other factors
that may cause actual events to differ materially from current
expectation. Important factors - including the availability of
funds, the results of financing efforts, crop yields - that could cause
actual results to differ materially from the Company's expectations are
disclosed in the Company's documents filed from time to time on SEDAR
(see www.sedar.com). Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The company disclaims any
intention or obligation, except to the extent required by law, to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

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